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Coming your way....a new currency and economic order?

The world-wide financial meltdown triggered by and from Wall St. gives rise to the Chinese - also caught up in the present carnage - to question whether a new currency order isn't called for. Perhaps it's the after-glow of the Olympics, but whatever, China is a power and force to be reckoned with.

Reuters reports in "China paper urges new currency order after "financial tsunami":

"Threatened by a "financial tsunami," the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday.

The commentary in the overseas edition of the People's Daily said the collapse of Lehman Brothers Holdings Inc (LEH.P: Quote, Profile, Research, Stock Buzz) "may augur an even larger impending global 'financial tsunami'."

The People's Daily is the official newspaper of China's ruling Communist Party, and the overseas edition is a smaller circulation offshoot of the main paper."

One might well ask why the US dollar ought to dominate.......

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